Category: Business in Thailand
Bank of Thailand Announces Relaxation of Foreign Trading and Exchange Regulations
The Bank of Thailand (BOT) Act, B.E. 2485 sets out the objectives, the scope of working and organization structure of the Bank of Thailand in accordance with the international central banking standard in order to maintain the financial system, the financial institution system and the payment system stability and efficiency through transparency and accountable procedure. […]
Technology Transfer Plan Guidelines for Thai BOI
Foreign investors in Thailand who will be applying for a license in order to engage in a restricted business activity according to the Foreign Business Act of 1999 must prepare a technology transfer plan. Section 5 of the Foreign Business Act requires that technology transfer constitute one factor to be considered in permitting foreigners to […]
Thailand Foreign Business License: Rental Services
“Rental services” refers to procuring immovable property, such as land or office space, or movable property, such as machinery, equipment or motor vehicles for lease to customers. Rental services falls within Category (21) of List Three annexed to the Foreign Business Act of 1999. Therefore, any foreigners that plan to engage in rental services in […]
Legal Protection of Online Banking in Thailand
The ways of the world have gone digital since the invention and phenomenal evolution of information technology. Doing business has easily been one of these ways and the ease, economy, competitiveness, and speed of digital operations have led industries, including banking, to use the internet or go online. Thailand is among those, which have kept […]
Company Registration: Shareholder Meetings
Shareholder meetings form an important element of Thai company law, as Section 1144 of the Civil and Commercial Code states that “Every limited company shall be managed by a director or directors under the control of the general meeting of shareholders and according to the regulations of the company.” Therefore, shareholders play an important, albeit […]
Mergers and Acquisitions: VAT Implications under the Revenue Code
Under the Revenue Code of Thailand, what are the specific value-added tax (VAT) implications that arise after a merger and acquisition? The general principle of law as stated in Sections 152 and 153 of the Public Limited Companies Act of B.E. 2535 (1992) is that a merger of companies causes the former companies to cease […]
Registering a Trademark under Thai Law
An important principle of Thai trademark law is that words directly referencing the quality or character of the goods will not be deemed distinct and cannot be registered as a trademark. Section 7(2) of the Trademark Act of B.E. 2534 (1991). However, paragraph three of Section 7 also states that a trademark may also be […]
Guide to the Representative Office in Thailand
The Representative Office is an important form of business organization in Thailand since it helps to facilitate the import and export of goods by foreign companies. A Representative Office is characterized by the following features: It does not receive any revenue from providing services It cannot receive purchase orders or make sales or negotiate business […]
Service Businesses Which Foreigners May Operate Without A Foreign Business License
According the Foreign Business Act of 1999, foreigners are required to obtain a Foreign Business License before they may operate “other types of service businesses, except for those specified by Ministerial Regulations”. This provision in the law has generally restricted foreigners in Thailand from operating all types of service businesses except for those that are […]
Restricting Foreign Ownership: Amendments to the FBA
The Thai government has recently announced plans to make Thailand the financial capital of Southeast Asia. This was later followed up with an announcement that the Ministry of Commerce is reviewing whether to further tighten the definition of a foreign owned business in the Foreign Business Act. This set off alarms among many Thai-Foreign joint […]
